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Some of life’s unexpected events can be a pleasure and some can be downright stressful – like receiving notification that your insurer does not wish to renew your homeowner’s insurance policy. Why has this happened and what can you do about it?

If you’ve made frequent claims, even if they’re only small ones, they could be the reason your insurer no longer wants to insure you. Insurers are getting tough on people who make frequent claims. You could contact the insurer and ask them if they would consider insuring you with a higher deductible. Statistically, people who have higher deductibles are less likely to make a lot of claims. If they agree, you can always continue to look for a new insurer – but the main thing is to stay covered as it can be harder to find a new insurer if your policy has not been renewed.

Just the thought of having an uninsured home is stressful enough. Understanding how to best deal with it can be quite complicated too. If you have received a non-renewal notice you’ll probably be much better off finding a good insurance agency to assist you – so why not let one of our knowledgeable representatives at KL Smith Agency assist you?

The price you pay for your auto insurance can vary by hundreds of dollars, depending what type of car you have and the insurance company you buy your policy from. Here are some ways to save money.

1. SHOP AROUND

Prices vary from company to company, so it pays to shop around. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers. (State insurance department phone numbers and Web sites can be found on the back cover.)

You buy insurance to protect you financially and provide peace of mind. It’s important to pick a company that is financially stable. Check the financial health of insurance companies with rating companies such as A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) and consult consumer magazines.

Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents who offer policies from several insurance companies. Others do not use agents. They sell directly to consumers over the phone or via the Internet.

Don’t shop by price alone. Ask friends and relatives for their recommendations. Contact your state insurance department to find out whether they provide information on consumer complaints by company. Pick an agent or company representative that takes the time to answer your questions. You can use the checklist on the back of this brochure to help you compare quotes from insurers.

2. BEFORE YOU BUY A CAR, COMPARE INSURANCE COSTS

Before you buy a new or used car, check into insurance costs. Car insurance premiums are based in part on the car’s price, the cost to repair it, its overall safety record and the likelihood of theft. Many insurers offer discounts for features that reduce the risk of injuries or theft. To help you decide what car to buy, you can get information from the Insurance Institute for Highway Safety (www.iihs.org).

3. ASK FOR HIGHER DEDUCTIBLES

Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent. Going to a $1,000 deductible can save you 40 percent or more. Before choosing a higher deductible, be sure you have enough money set aside to pay it if you have a claim.

4. REDUCE COVERAGE ON OLDER CARS

Consider dropping collision and/or comprehensive coverages on older cars. If your car is worth less than 10 times the premium, purchasing the coverage may not be cost effective. Auto dealers and banks can tell you the worth of cars. Or you can look it up online at Kelley’s Blue Book (www.kbb.com). Review your coverage at renewal time to make sure your insurance needs haven’t changed.

5. BUY YOUR HOMEOWNERS AND AUTO COVERAGE FROM THE SAME INSURER

Many insurers will give you a break if you buy two or more types of insurance. You may also get a reduction if you have more than one vehicle insured with the same company. Some insurers reduce the rates for long-time customers. But it still makes sense to shop around! You may save money buying from different insurance companies, compared with a multipolicy discount.

6. MAINTAIN A GOOD CREDIT RECORD

Establishing a solid credit history can cut your insurance costs. Most insurers use credit information to price auto insurance policies. Research shows that people who effectively manage their credit have fewer claims. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate.

7. TAKE ADVANTAGE OF LOW MILEAGE DISCOUNTS

Some companies offer discounts to motorists who drive a lower than average number of miles per year. Low mileage discounts can also apply to drivers who car pool to work.

8. ASK ABOUT GROUP INSURANCE

Some companies offer reductions to drivers who get insurance through a group plan from their employers, through professional, business and alumni groups or from other associations. Ask your employer and inquire with groups or clubs you are a member of to see if this is possible.

9. SEEK OUT OTHER DISCOUNTS

Companies offer discounts to policyholders who have not had any accidents or moving violations for a number of years. You may also get a discount if you take a defensive driving course. If there is a young driver on the policy who is a good student, has taken a drivers education course or is away at college without a car, you may also qualify for a lower rate.

When you comparison shop, inquire about discounts for the following:*

Antitheft Devices
Auto and Homeowners Coverage with the Same Company
College Students away from Home
Defensive Driving Courses
Drivers Ed Courses
Good Credit Record
Higher deductibles
Low Annual Mileage
Long-Time Customer
More than 1 car
No Accidents in 3 Years
No Moving Violations in 3 Years
Student Drivers with Good Grades

*The discounts listed may not be available in all states or from all insurance companies.

The key to savings is not the discounts, but the final price. A company that offers few discounts may still have a lower overall price.

CT might be the Independent State but if you’ve just had a quote on Auto Insurance for a new teenage driver in your household, you’re probably thinking that their independence is still a little way off – on a financial level anyway! Once they’ve got wheels, they’ve got the taste for independence and it becomes that much harder to keep track of them.

There’s a reason parents worry so much about their teenagers – we were once that age ourselves and remember only too well the sorts of things we got up to once we had a vehicle at our disposal! If you’ve done all you can to educate them and outlined to them the importance of driving safely, not drinking and driving, and not getting into vehicles with drivers who have been drinking, you can now only hope they’ve taken it all in. Pray for the best – and keep the auto insurance up to date!

You may be able to keep the cost of their insurance down by adding them to your auto policy. It might also be a good time to review all your insurance policies – if you can save a little on each, it may reduce the overall cost of your policies and make up for the additional premium on your auto insurance.

Why not call us now at 860-423-9294and arrange a review of your Auto Insurance policy? We can’t help you control your teenager – but we can help you control your insurance costs.

With veteran employees, KL Smith Agency is a proud supporter of Military communities, families and veterans alike. We know all too well the pains of transition process and how to translate all of your military skills to a civilian career.

While searching through Military.com, this tool was discovered and I thought it would be beneficial to share it. If it’s not beneficial to you, maybe you can share it with someone you know, re-tweet it, re-post it on your Facebook or other social network.

Through K.L. Smith Agency Insurance, you can get your Wilimantic insurance quotes online quickly and easily. If your requirements are complex, call us for an in-depth discussion of your insurance needs.

Life can be unpredictable, and talking to the friendly staff at K.L. Smith Agency can help protect you from life’s unwelcome surprises. We all live in the hope that “it’ll never happen to me” but the chances are, at some stage in our lives, it will. Accidents just happen and they seem to happen at the most inconvenient times – that’s why having insurance is so important.

When things go wrong the one thing you can count on is that it is going to cost you money. If you’ve been smart enough to take out some form of insurance you’ll be protected from unexpected bills and inconvenient delays in getting back to a normal life.

At K.L. Smith Agency Insurance we have all your insurance needs covered, including auto, homeowner, business, life, health, fire, earthquake and much more. With our industry experience and networks we can get you the most competitive rates in the business. We can also show you how you can combine your policies and save hundreds of dollars a year.

If you’ve put off getting insurance because you think it will cost too much, you might be in for a pleasant surprise. If you’re in Wilimantic, get quotes through our online insurance system or give us a call and let us find the right insurance at the right price for you.